CRYPTO SCAM: BitChair review

BitChair websiteIn this review we expose a new cryptocurrency scam, it is called BitChair.

BitChair Limited allegedly is a cryptocurrency mining company. The mining activity is supposed to create profits for the investment plans that offer daily returns between 10% and 15% forever. Moreover there are another 6% offered in the referral program.

So, is BitChair a legit investment opportunity? No!

BitChair scam

Impossible investment plansThere is a simple truth given by the economic reality: Any program offering 10% to 15% daily returns has to be a Ponzi scheme, because there is absolutely no way to create such massive profits in any egit activity.

300% – 450% monthly or 3650% – 5475% yearly is absolutely impossible on a regular basis doing cryptocurrency mining or trading. It’s a fact. Period.

Illegal operation

No FCA licenceBitChair uses the typical trick of crypto scams, it hides behind a newly registered company in the UK. BitChair Limited was established only at the end of August 2017, so it is two months old. No proven track record, no history.

You also have to realize that BitChair only has a registration for tax purposes, which does not say anything about the lawfulness of its activities.

In fact, BitChair is operating illegally, because it is offering investment services without having a licence from the Financial Conduct Authority.

Investment services are regulated in the UK, so no FCA registration means that BitChair is illegal.

How it really works

BitChair is a Ponzi scheme. This is why it offers daily returns that are so high. Ponzi schemes collect deposits from the public and initially pay the profits by taking money from new deposits. This way they attract more investors.

When scammers are happy with the capital they collected from the public, they will close down the scheme and run away with all the money. This is also why these crypto scams accepts deposits in cryptocurrencies only, scammers want to remain anonymous.

Conclusion

BitChair is a scam, a Ponzi scheme. Sooner or later it will collapse and money will disappear. Stay away from it!

Making money in crypto trading is possible, but not hundreds of percent per month. You can try a free demo account and see how it really works.

Trading is risky, so be sure to first build a profitable strategy on the demo. And even then you can trade only with money that you can afford to lose.

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BitChair
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11 thoughts on “CRYPTO SCAM: BitChair review

  1. Hello Bitchair.biz is paid , i am add BTC 0.44 (25-Oct-2015) every day instant transfer still success Earn 10% BTC 0.0044/day i am start still 4 days …..i am waiting more days and payment is good or bad …still bitchair.biz is good . after one day i will write here .
    anyone have mail me i’m send screen shot my wallet and earning . i think is scam but no bitchair.biz still good.

      1. bitchair did not pay .. my withdrawal still pending for three days and i think my investment will not coming back to fu*king bitchair

  2. bitchair is legit and the only problem is that people is calling it a scam .how can you call it a scam and they are paying ?
    these people make these scam reviews just to make money from views.

    1. They are not paying anymore and now eager to defraud more people they offer 70%bonus just to attract deposits. They have refused to send my withdrawals since Monday 6 November. They are setup to give a bad name and defraud people.

  3. I tried bitchair just to see for my self if it is or insn’t a scam. Deposit of 0.001 btc after 6 days 0.0006 “earned” but trying to get a withdraw……. nothing happened.
    This is my own experience, so if you want to try this, be prepared that you’re money will be gone!

    1. Please remember that even if you could withdraw your money now, Ponzi schemes always collapse in the end. Initially they pay out the profits to attract more people and then they close down.

  4. john Novak is right because bitchair never pay me back i invest and then the time come that i withdraw my funds until now itwas never sent to my bitcoin wallet grrrrrr….

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